LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Moderate Buy consensus from eight analysts (six buy, one hold, one sell) with an average 1‑year price target of $44, though several firms cut targets recently (Citigroup to $26, HC Wainwright to $48).
• Financials show weakness: shares opened at $10.13 (market cap ~$317.6M, 52‑week range $8.25–$50.40) and the company posted an EPS miss last quarter of $(1.16) vs. $(0.91) expected and revenue of $1.59M vs. $3.09M, with analysts forecasting ~$(3.66) EPS for the year.
• LENZ is a biopharmaceutical company developing Phase III presbyopia candidates LNZ100 and LNZ101, and institutional investors own about 54.32% of the stock with several funds recently increasing positions.

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $44.00.

Several brokerages have recently weighed in on LENZ. HC Wainwright lowered their target price on shares of LENZ Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of LENZ Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of LENZ Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Finally, Citigroup decreased their price objective on shares of LENZ Therapeutics from $52.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, March 26th.

LENZ Therapeutics Stock Down 0.5%

Shares of NASDAQ:LENZ opened at $10.13 on Tuesday. The company has a market cap of $317.58 million, a price-to-earnings ratio of -3.60 and a beta of 0.66. The firm's 50-day simple moving average is $11.21 and its 200-day simple moving average is $20.10. LENZ Therapeutics has a fifty-two week low of $8.25 and a fifty-two week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its earnings results on Tuesday, March 24th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.25). The firm had revenue of $1.59 million for the quarter, compared to analyst estimates of $3.09 million. On average, research analysts forecast that LENZ Therapeutics will post -3.66 EPS for the current year.

Institutional Trading of LENZ Therapeutics

A number of institutional investors have recently added to or reduced their stakes in LENZ. Creative Planning purchased a new stake in LENZ Therapeutics during the second quarter worth about $412,000. JPMorgan Chase & Co. boosted its holdings in LENZ Therapeutics by 28.7% during the second quarter. JPMorgan Chase & Co. now owns 10,361 shares of the company's stock worth $304,000 after buying an additional 2,310 shares in the last quarter. Legal & General Group Plc boosted its holdings in LENZ Therapeutics by 25.7% during the second quarter. Legal & General Group Plc now owns 10,989 shares of the company's stock worth $322,000 after buying an additional 2,247 shares in the last quarter. Rhumbline Advisers boosted its holdings in LENZ Therapeutics by 35.6% during the second quarter. Rhumbline Advisers now owns 24,363 shares of the company's stock worth $714,000 after buying an additional 6,396 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in LENZ Therapeutics by 1,105,675.0% during the second quarter. Russell Investments Group Ltd. now owns 44,231 shares of the company's stock worth $1,296,000 after buying an additional 44,227 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Company Profile

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.

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